US State Brand - Bloom Consulting

Transcription

Development of Countries
Human Asset Management
Business Strategy
Bloom Consulting
US State
Brand
Ranking ©
Tourism
Edition
Bloom Consulting © Since 2003
2012
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Bloom Consulting US State Brand Ranking©
An Introduction
Bloom Consulting is proud to announce its entry into North America with the launch of
Bloom USA, based in Los Angeles, and the inaugural “American Edition” of its Country
Brand Ranking.
Bloom Consulting is the world’s leading country branding consultancy, headquartered in
Madrid, Spain. Already ranking over 160 countries around the world in Tourism and 150
in Trade, Bloom is now extending the benefits of its unique, proprietary approach to
branding geographies to the states, provinces, regions and cities of North America.
The Ranking measures the effectiveness of brand strategies used by each of the 50 US
states to attract Trade and Tourism.
Bloom Consulting uses hard facts, such as economic indicators and an analysis of official
state brand strategies, as well as soft data indicators, thus measuring the economic impact
of each state’s brand strategy for trade and tourism. Bloom Consulting takes into account
variables that define each state’s economic performance, as well as variables that characterize each strategy’s accuracy, market acceptance and collective online presence. This
marks the first time that Online Search Demand (OSD) has been incorporated into a
ranking of this type.
Bloom Consulting’s US State Brand Ranking © is live, using up to the minute data compiled from social media trends, online statistics, and quarterly financial results. All data is
from authoritative sources, including the US Census, the US Travel Association, and the
official travel and/or tourism agencies for each state.
[email protected] / 888-576-0065 (PST)
Page 01
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
An introductory note from the CEO
Welcome
I am proud to present you with the Bloom Consulting US State Brand Ranking© 2012.
I must confess, I am proud to launch our first edition of the US State Ranking in
an election year! We sincerely hope the research and the ranking provides definitive
answers for the last five years of all fifty states’ branding performance. In other words,
with this ranking you can finally see who has actually been doing a good job in terms
of State Branding.
The results of the ranking have different variables explained later in this document.
In a nutshell, we rank each state based on who was able to attract more tourists due
to its brand strategy.
I encourage you to use our ranking internally. And please use it as an asset,
to demonstrate how important your state brand is to your economy.
Although we would have liked to give a detailed description of each state’s individual
brand strategy performance in this document, this is just an initial overview of our
research. However, if you are interested in finding more information about your state,
please do not hesitate to contact us. I would be happy to send you all the information
you require.
Welcome to the Bloom Consulting US State Brand Ranking © 2012. We hope you
appreciate the great results and findings as much as we do!
José Filipe Torres - CEO Bloom Consulting
Page 02
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
A word from the USA Managing Director
A bright future ahead
I am very pleased to bring the benefits of Bloom Consulting’s unique approach to strategy
and branding to North America. Over the last decade Bloom has earned the reputation as
the world’s leading country branding consultancy, with recognition from the likes of The
Economist and Forbes, and from clients like the European Commission, Poland, Portugal,
Spain and Latvia. As an example of Bloom’s track record of success, Bloom worked with
the government of Bulgaria to bring it from dead last to first in terms of investment in all
of Central and Eastern Europe.
Too often we see geographies in the US locked in a race to the bottom in terms of concessions and labor costs with little net gain realized. Bloom looks at our clients’ internal
resources, internal perceptions and how they are perceived from the outside. Our unique
data-based approach to branding opens a window on what resources set states apart from
their neighbors, and where to find the best, most receptive audience for what they have to
offer. Our recommendations are not based on opinions and focus groups, but on sophisticated data analysis.
I encourage you to take a close look at our US State Ranking, I am sure you will find
some surprises. If you would like to know more about how number 9 Michigan outperforms number 25 Massachusetts, for example, please contact us and take a deep dive into
our methods.
In the end, our work is about bettering people’s lives. By improving the economic performance of communities around the world, Bloom has had a positive effect on the daily
lives of countless individuals and their families. This is why I am so excited to bring
Bloom to the USA.
I look forward to hearing from you.
Tim Roberts - Managing Director, Bloom USA
Page 03
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Introduction to State and Destination Branding
The 3T approach ©
In creating a state brand strategy we focus on three main areas: attraction of trade,
tourism and talent.
The traditional approach when facing the challenge of attracting trade, tourism and talent
is to create, or simply improve, perceptions under one umbrella strategy. Ultimately this
will fail, as we see over and over again around the world. It’s impossible to communicate
entertainment to investors and simultaneously communicate a qualified and hardworking
workforce to potential tourists. They messages repel each other, destroying the core
objective. Most of the time agencies attempt a compromise in order to better create
an overall strategy. As a result, they weaken their brand, as each factor is not branded
up to its potential.
In order to solve the problem of having a single multi-dimensional strategy,
Bloom Consulting has developed a 3T approach to state branding that separates each T.
T1. Attraction of Trade
T2. Attraction of Tourism
T3. Attraction of Talent
Traditional “Umbrella” Strategy
T1
T2
GDP
Impact
Bloom Consulting’s 3T Approach ©
T3
T2
T1
GDP
Impact
T3
This way, we’re able to calculate growth projections and calculations individually,
in order to better define the objectives of an overall strategy.
Page 04
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Bloom Consulting US State Brand Ranking ©
2012 TOURISM - Ranking
Rank
SBS Rating ©
1.
California
2.
Florida
3.
New York
4.
Illinois
AAA
5.
Texas
B
6.
Michigan
7.
Georgia
8.
Pennsylvania
9.
Virginia
B
10.
Colorado
A
A
AAA
A
AAA
B
BBB
Page 05
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
SBS Rating ©
Rank
11.
New Jersey
AAA
12.
Arizona
AAA
13.
North Carolina
14.
Nevada
15.
Massachusetts
BBB
16.
Indiana
AAA
17.
Hawaii
BB
18.
Minnesota
A
19.
Maryland
B
20.
Wisconsin
A
21.
Ohio
B
22.
Washington
B
23.
Missouri
24.
Tennessee
25.
Washington DC
26.
Oregon
27.
Louisiana
A
28.
Oklahoma
A
29.
South Carolina
B
30.
Arkansas
AA
31.
Kentucky
A
32.
Maine
33.
Connecticut
B
34.
Iowa
A
35.
Utah
AAA
B
CC
BBB
CC
A
BBB
AAA
Page 06
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
SBS Rating ©
Rank
BB
36.
Alabama
37.
Mississippi
BBB
38.
New Mexico
CCC
39.
Montana
40.
Idaho
41.
New Hampshire
42.
South Dakota
B
43.
Wyoming
C
44.
North Dakota
45.
Nebraska
D
46.
Alaska
B
47.
Kansas
D
48.
Vermont
B
49.
West Virginia
BB
50.
Rhode Island
BBB
51.
Delaware
CCC
C
CCC
CC
BBB
Page 07
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Highlights
The overall results of the ranking indicate that although economic performance is crucial,
an accurate brand strategy as measured by the SBS Rating © can make or break a state.
California was the overall winner of the first Tourism
ranking. California’s long list of destinations known
world-wide, from sunny beaches and Hollywood
to San Francisco and the Golden Gate, make this an easy
guess, but the state backed up its economic dominance
with consistent branding excellence across the board.
Florida (2) and New York (3) are also very popular tourist destinations and so their strong
ratings and high ranking are expected, but Illinois’s strong performance was a surprise.
Thanks to its AAA ranking, Illinois edged ahead of its competitors.
A big shock, due to a AAA rating, was Michigan’s (6)
performance. Its top rating and branding performance
indicate the state is undergoing a very effective brand
renewal. Michigan is picking up speed and will be
fascinating to watch over the next few years.
The top ten was filled out by strong economic performers that lost momentum with only
average ratings. Georgia (7), Pennsylvania (8), and Virginia (9) barely managed to stay
ahead of Colorado (10).
Page 08
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Highlights... Continued
Another state to watch, Colorado’s A rating and strong social media
performance allowed it to pull ahead of competitors like Utah (35), New Mexico (38)
and Montana (39). If Colorado improves to a AAA rating it could advance to the top 5.
Maine was another surprising winner in the ranking.
Though the placement (32) doesn’t appear impressive on
the surface, its tourism brand strategy is truly making an
impact, and this lifted the state out of the doldrums. Expect
Maine to continue to improve.
There was a noticeable weakness in the West and Midwestern states, with Montana (39),
Wyoming (43), Nebraska (45), and Kansas (47) as the most visible underperformers.
Their poor SBS Ratings © show a critical need for more accurate brand strategies. Most
states are still in the process of recovering from the recent recession; a strong tourism
industry can provide a near term boost to sagging economies.
Page 09
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Understanding the Methodology
The Ranking Variables
The Bloom Consulting Algorithm, developed to create and calculate the ranking,
takes into account both hard and soft data and includes groundbreaking processes
to show the relationship between a state’s economic performance and the projections
of the state’s brand strategy.
The ranking is derived from four variables that take into account both hard and soft data.
The ranking does not use any survey or interview based data, meaning that it provides
the most objective, accurate results possible.
Bloom Consulting Algorithm variables
Social Media
Performance
Web
Analytics
SBS
Rating©
Economic
Performance
Bloom Consulting
US State
Brand Ranking ©
Page 10
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Understanding the Methodology
The Ranking Variables more in detail
Economic Performance
Strategies and economic returns do not have an immediate cause and effect relationship,
therefore Bloom Consulting uses a long term (five years) economic analysis. This way,
the Ranking reflects more consistent trends rather than the volatile changes that might
occur in the recovering economic climate.
Bloom Consulting first looks at the state’s economic performance in tourism receipts
benchmarked against its peers. Bloom Consulting also computes the compound annual
growth rate (CAGR) from 2007 to 2011. This way, it is possible to garner how much the
industry grew or decreased and the impact it had on revenue.**
Bloom Consulting State Brand Strategy (SBS) Rating ©
Bloom Consulting also rates the impact of each state’s branding strategy. The SBS
Rating© takes into account the uniqueness of each state’s current brand strategy (Brand
Tags) and the accuracy of the Online Search Demand. A brand strategy that is more
unique and more aligned with tourist searches will receive a better Rating.
Web Analytics
Web analytics is an increasingly important component of every brand. In order to
measure the online presence of each state’s brand strategy, Bloom Consulting looked
at the official state tourism agency’s website as tracked by online web traffic reporters to
establish how many people visit each website and continue further or simply exit the site.
Social Media Performance
All state agencies already have websites, and now, an increasing number of them are
interacting with potential tourists through social networks. Bloom Consulting considers
that social networking will be even more crucial for gaining market share in the future, so
a state’s social media performance was evaluated by information from Twitter and Facebook pages and the numbers of followers.
** All data is taken from US Travel Association
Page 11
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Measuring State Brand Strategy Accuracy
The SBS Rating ©
The SBS Rating © is calculated using brand strategy economic performance analysis
and analysis of online search demand. The state brand strategy is measured through brand
tags, the key words that reflect the brand strategy of each state. For the first time in any
state or nation brand ranking, Bloom’s online search demand (OSD) is able to show if
a state supplies what tourists are seeking, and how well the state is matching this demand.
Brand tags function as the ‘supply’ side of the tourist-destination equation. Thousands
of brand tags were collected from each state’s official tourism agency and then classified
into 49 different clusters that relate to cultural tourism, holiday/leisure/recreational
tourism, nature or sports. Each cluster is assigned an economic value in order to rate
the relative returns gained from each brand tag.
Domestic and international tourist searches for the brand tags and related words were
then analyzed, state by state, in the most used search engines, to show the state’s accuracy
match and quantify Online Search Demand. By considering the OSD, Bloom Consulting
is able to show if a state offers what tourists are seeking, and how well the state is matching this demand. This identifies the gap between supply and demand. The more accurate
a state is, the better the SBS Rating ©.
Just as international rating agencies rank countries’ credit risk, Bloom Consulting uses
the SBS Rating © to classify countries’ brand risk.
Score
Description
AAA
AA
A
BBB
BB
B
CCC
CC
C
D
Very Strong
Strong
Slightly Strong
Very Good
Good
Slightly Good
Slightly Weak
Weak
Very Weak
Poor
Page 12
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
FAQs
1) Who is this Ranking meant for?
Bloom Consulting US State Brand Ranking © is for anyone interested in place branding
from every perspective, whether you’re in government, academia, industry, finance,
or just find it interesting.
2) Why did Bloom Consulting create a Ranking?
Bloom Consulting created the Ranking to evaluate the impact of a state’s brand strategy
in economic terms and, above all, to answer the ever relevant question of how states
can become more attractive.
3) How does Bloom Consulting’s Ranking differ from other rankings?
Bloom Consulting’s Ranking uses variables and methodology to generate a ranking far
ahead of the field in terms of objectivity and innovation. Not only does Bloom Consulting
base its research on objective hard and soft facts, rather than using survey based data like
other rankings, it is also the first ranking to take tourist demand into account.
4) What is new in the 2012 edition of the Ranking?
First of all, it is the first “US Edition” of Bloom’s Country Brand Rankings. Second,
Bloom has improved its methodology over past rankings in order to deliver a more accurate, more objective results. Tourist Online Search Demand (OSD) is now included in the
Bloom Algorithm. By analyzing consumer behavior and the effectiveness of state brand
strategies, the newest ranking raises the bar by giving a pioneering view of the tourism
industry from a supply and demand angle.
5) How can a state have a poor SBS Rating ©, but do well in the Ranking ©?
If a state has a negative SBS Rating ©, its brand strategy is not actively reflecting what
the state has to offer (in the eyes of tourist-demand). So even though its economic performance might still be strong, the trade strategy is not taking advantage of the state’s unique
selling propositions.
Page 13
US State
Brand
Ranking ©
Business Strategy
2012
Tourism
Edition
Bloom Consulting
About
Bloom Consulting creates brand strategies for countries, regions, cities and companies all
over the world. What we create is unique, derived from solid experience and cutting edge
research and delivered with entrepreneurial flair. Our strategies make an impact where it
really counts: financially.
Bloom is the world leader in our field, with glowing recommendations from
the Economist and Forbes. After successfully working with governments and companies
around the world, our track record speaks for itself. Bulgaria rocketed from thirteenth
to first entrepreneurship economic position in Central and Eastern Europe after working
with Bloom. Latvia’s GDP improved 5% with Bloom’s strategy. Even McDonald’s sought
Bloom Consulting’s expertise when expanding into Latin America.
Bloom USA is located in Southern California, the creative hub for industries from Aerospace to Biotech to Media and Entertainment. But Bloom’s vision goes beyond just the
USA, Bloom Consulting has successfully helped scores of governments and companies
around the globe come to terms with a rapidly changing competitive environment. We
have greater experience facing these challenges than anyone else in the business, but we
also use newer, more accurate methods. And as entrepreneurs, we look at results and
see opportunities.
For further information or enquiries
Please contact
Timothy Roberts - Managing Director, Bloom USA
[email protected]
Page 14

US State Brand - Bloom Consulting

Transcription

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